Pune, India / February 02, 2022 / SEAPRWIRE / Shaktiio is a pioneering endeavor that intends to develop an anti-liquidation protocol that assures that cryptocurrencies used as collateral are not sold and forcedly liquidated if their value falls below certain limits or the amount of debt owed. Its debut is closely approaching, as the ICO is set to take place on 1 March 2022.
Overall, the SKTO token will have a fixed supply of 1 billion tokens, with an initial supply of 560 million tokens accessible during the token sale, assuming a minimum aim of $100 million being reached. Initially, 1 ETH will be equivalent to 22,222 SKTO. If the plan goes accordingly, there will be a 1 million token distribution for ICO investors in the aftermath of the ICO event. Out of the remaining token supply, 340 million will be locked for 3 years, being also eligible for any eventual burns. Lastly, the remaining 100 million will be utilized for promotions and claims reserve.
Most importantly, an ETH reserve will be set up to ensure that all tokens sold during the ICO are secure. The protection of ICO investors comes first, as any investment is assured by a 100 % buyback endeavor which guarantees that any investment can be received in the amount of ETH they invested. Essentially, they want to reserve the ETH fund as a guarantee to their customers’ lending platforms, aiming to utilize the fund’s interest portion to support the project’s development. Although claiming ETH is not immediately accessible, they are prepared to collect votes for the next stage. Furthermore, after three years, investors are eligible for an ETH claim. In the event that their token does not appreciate as projected above ETH proportionately in three years, they will have the alternative of refunding their ICO investors in ETH, alongside with the acquitted fewer transaction costs that they have already paid.
The team at Shaktiio’s has vast expertise in the financial industry, and they are fully acquainted with the scope and nature of the issue. This team will do all in its power to put the Anti-liquidation Protocol into effect since they are certain that the financial market needs this solution.
Because security is of the utmost importance to Shaktiio, the system will gather customers’ unique identity data to prevent fraudulent claims. Moreover, the system will only allow BTC, ETH, XRP, and NEXO tokens to be leveraged as collaterals. At the time of enrolment, the LTV quantum will be less than 50%, and there will be one time 30 days premium on collection. Aside from that, there will be 5 days of free coverage after in-force protection.
Check out Shaktiio’s website to stay up to date with the latest development and embark on this unique project’s journey.
SOURCE: SHAKTIIO INNOVATIONS
The article is provided by a third-party content provider. SEAPRWIRE makes no warranties or representations in connection therewith. Any questions, please contact cs@SEAPRWIRE.com
Sectors: Top Story, Daily News
SEAPRWIRE (www.seaprwire.com) offers newswire service in Southeast Asia (Indonesia, Thailand, Vietnam, Singapore, Malaysia, Philippines & Hong Kong)